With patient satisfaction scores playing a bigger role in health care providers’ financial bottom lines, hospitals and health systems must pay attention to all interactions with patients, including the billing process.
This may require reviewing and updating your revenue cycle.
Recently, Becker’s Hospital Review recapped insights from revenue cycle management (RCM) leaders shared over the last year.
A couple of themes stood out: hiring the right people and price transparency.
Suggestions included finding staff members who can lead patients in discussions about their benefits and moving cost to the forefront of conversations with patients.
Also critically important in any discussion of revenue cycle optimization is health information management (HIM).
On its surface, HIM may not seem connected to the patient experience. But medical records and the data they contain provide the link between patient engagement at the front end of the revenue cycle and payment resolution at the back end.
It’s imperative to ensure that you’re coding every claim as accurately as possible to support the care provided, the medical necessity of that care, and the patient’s response or outcomes of the care.
As your organization integrates patients’ health information more deeply into the revenue cycle, you improve the patient experience — and lay the foundation for a thriving future.
The revenue cycle conversation continues with the latest episode of #5in5: Industry experts answering five questions in five minutes.
Click here to read about three HIM optimizations that can yield the greatest returns.
About the Author:
Lorri Sides is a registered nurse and is a senior Director of Product Management at Optum360. She has more than 15 years of health care experience and leverages her unique expertise to link the clinical components of health care with the appropriate financial reimbursement and compliant charging through the use of software. Lorri has an exceptional record of coaching health care executives and partnering with hospital executives to optimize outpatient business lines. She passionately addresses the need to align quality, risk, operational, service and financial goals to be successful in transforming health care.